Xstrata bid materialises

ZUG-based Xstrata has done what Alcoa didn’t and launched a hostile cash takeover bid for WMC Resources, with the $6.35 per share offer substantially below what the stock has been trading at since speculation on the deal first surfaced less than a month ago.

Xstrata bid materialises Xstrata bid materialises Xstrata bid materialises Xstrata bid materialises Xstrata bid materialises

However, according to Xstrata, the offer price represented a 29.1% premium to WMC’s share price before the speculation about the takeover began late in October, and a 43.

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